Silver Lake sells 14,242 Dell shares around $543
Silver Lake–affiliated funds converted Dell Class B into Class C shares and sold 14,242 Class C shares while retaining a substantial indirect stake.
Rhea-AI Filing Summary
Dell Technologies Inc. (DELL) reported insider activity involving entities affiliated with Silver Lake on September 14, 2026. Silver Lake Partners V DE (AIV), L.P. and related funds converted 20,434 shares of Class B Common Stock into the same number of Class C Common Stock and then sold 14,242 Class C shares in multiple open-market transactions at weighted average prices ranging from about $530 to $543 per share. After these transactions, Silver Lake entities continue to hold a large indirect position corresponding to 33,119,764 underlying Class C shares through Class B Common Stock, plus additional direct and indirect Class C holdings, while all reporting persons disclaim beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
22 txns
Insider
Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Associates V, L.P., SLTA V (GP), L.L.C., Silver Lake Group, L.L.C., Durban Egon
Role
Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director
Sold
14,242 shs ($7.61M)
Approx. gross sale proceeds
$7.61M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock F2, F1, F3, F4 | 20,434 | $0.00 | $0.00 |
| Exercise | Class C Common Stock F1, F2, F3, F4 | 20,434 | -- | -- |
| Sale | Class C Common Stock F10, F3, F4 | 2,588 | $530.67 | $1.37M |
| Sale | Class C Common Stock F11, F3, F4 | 3,834 | $531.63 | $2.04M |
| Sale | Class C Common Stock F12, F3, F4 | 1,487 | $532.62 | $792K |
| Sale | Class C Common Stock F13, F3, F4 | 1,029 | $533.80 | $549K |
| Sale | Class C Common Stock F14, F3, F4 | 878 | $534.55 | $469K |
| Sale | Class C Common Stock F15, F3, F4 | 665 | $535.76 | $356K |
| Sale | Class C Common Stock F16, F3, F4 | 323 | $536.74 | $173K |
| Sale | Class C Common Stock F17, F3, F4 | 1,039 | $537.94 | $559K |
| Sale | Class C Common Stock F18, F3, F4 | 1,495 | $539.00 | $806K |
| Sale | Class C Common Stock F19, F3, F4 | 278 | $540.18 | $150K |
| Sale | Class C Common Stock F20, F3, F4 | 264 | $540.82 | $143K |
| Sale | Class C Common Stock F21, F3, F4 | 314 | $542.13 | $170K |
| Sale | Class C Common Stock F22, F3, F4 | 48 | $543.04 | $26K |
| holding | Class B Common Stock F2, F24 | -- | -- | -- |
| holding | Class C Common Stock F4, F5 | -- | -- | -- |
| holding | Class C Common Stock F6 | -- | -- | -- |
| holding | Class C Common Stock F7 | -- | -- | -- |
| holding | Class C Common Stock F8 | -- | -- | -- |
| holding | Class C Common Stock F9 | -- | -- | -- |
| holding | Class C Common Stock F23 | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 8,984,126 contracts (Indirect, Held through Silver Lake Partners V DE (AIV), L.P.);
Class C Common Stock — 24,237 shares (Indirect, Held through Silver Lake Partners V DE (AIV), L.P.);
Class B Common Stock — 33,119,764 contracts (Indirect, See footnote);
Class C Common Stock — 3,215 shares (Indirect, Held through Silver Lake Group, L.L.C.);
Class C Common Stock — 380,924 shares (Indirect, See footnote);
Class C Common Stock — 1,395,650 shares (Direct)
Footnotes (24)
- F1. Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. and certain of their respective affiliates sold certain shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on September 14, 2026.
- F2. Each share of Class B Common Stock, par value $0.01 per share of the Issuer (the "Class B Common Stock") is convertible into one share of Class C Common Stock at any time, at the election of the holder or automatically upon certain transfers, and has no expiration date. On September 14, 2026, certain of the Reporting Persons converted shares of Class B Common Stock into an equal number of shares of Class C Common Stock in connection with the sales described in footnote (1) above.
- F3. These securities are held by Silver Lake Partners V DE (AIV), L.P. The general partner of Silver Lake Partners V DE (AIV), L.P. is Silver Lake Technology Associates V, L.P. and the general partner of Silver Lake Technology Associates V, L.P. is SLTA V (GP), L.L.C.
- F4. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA V (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
- F5. Reflects shares of Class C Common Stock held by SLG.
- F6. Reflects shares of Class C Common Stock held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.
- F7. This amount reflects 41,375, 137,789, 35,426 and 24,766 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of certain employees and managing members of SLG or its affiliates.
- F8. Reflects shares of Class C Common Stock held directly by Mr. Durban. Mr. Durban has filed a separate Form 4 reporting transactions in securities of the Issuer on September 14, 2026.
- F9. Reflects shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
- F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $530.0600 to $531.0500 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $531.0700 to $532.0600 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.0900 to $533.0000 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.1800 to $534.1600 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.2000 to $535.1400 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.2100 to $536.2000 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.4700 to $537.0000 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.4900 to $538.4300 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $538.5400 to $539.5200 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $539.6300 to $540.5300 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $540.6500 to $540.8800 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.8000 to $542.6800 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $543.0000 to $543.4600 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F23. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 46,873 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 41,400 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings.
- F24. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,168,089 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,597,353 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 244,201 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,121 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Key Figures
Class B shares converted: 20,434 shares
Class C shares sold: 14,242 shares
Sale price range (example F10): $530.06–$531.05 per share
+5 more
8 metrics
Class B shares converted
20,434 shares
Class B Common Stock converted into Class C on September 14, 2026
Class C shares sold
14,242 shares
Net shares sold in open-market transactions on September 14, 2026
Sale price range (example F10)
$530.06–$531.05 per share
Weighted average price range for one sale bucket of Class C shares
Highest disclosed sale range (F22)
$543.00–$543.46 per share
Weighted average price range for one group of Class C sales
Indirect derivative position
33,119,764 underlying Class C shares
Underlying Class C represented by Class B Common Stock held indirectly after transactions
Direct Class C holding by Egon Durban
1,395,650 shares
Class C shares held directly by Egon Durban after the reported transactions
Class C held through Silver Lake Group, L.L.C.
3,215 shares
Indirect Class C position held via Silver Lake Group, L.L.C.
Net buy/sell direction
14,242-share net sale
Net of all reported buy and sell transactions in this Form 4
Key Terms
Class B Common Stock, Class C Common Stock, weighted average price, indirect pecuniary interest, +2 more
6 terms
Class B Common Stock financial
"Each share of Class B Common Stock, par value $0.01 per share"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class C Common Stock financial
"shares of Class C Common Stock, par value $0.01 per share"
A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
indirect pecuniary interest financial
"entities in which Mr. Durban may be deemed to have an indirect pecuniary interest."
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization"
beneficial ownership regulatory
"disclaims beneficial ownership of these securities, except to the extent"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Silver Lake entities report in DELL stock on September 14, 2026?
Silver Lake–affiliated funds converted 20,434 Class B Dell shares into Class C and then sold 14,242 Class C shares in multiple open-market transactions on September 14, 2026, at weighted average prices disclosed in a series of footnotes.
What types of Dell (DELL) securities were involved in the Silver Lake Form 4?
The filing involves Class B Common Stock, each convertible into one Class C Common Stock share with no expiration date, and subsequent transactions in Class C Common Stock sold in open-market trades at various weighted average prices.
What Dell (DELL) holdings do Silver Lake entities report after these transactions?
A derivative position corresponding to 33,119,764 underlying Class C shares remains held indirectly through Dell Class B Common Stock. Additional entries show 3,215 Class C shares held through Silver Lake Group, L.L.C. and 1,395,650 Class C shares held directly by Egon Durban.
Were the Dell (DELL) insider transactions under a Rule 10b5-1 trading plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not marked as being made under a trading plan, and the footnotes describing the transactions do not state that they were executed pursuant to a Rule 10b5-1 plan.
How are the Dell (DELL) insider sales by Silver Lake attributed among entities?
Footnotes state the Class C sales were by Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. and affiliates, with reporting persons disclaiming beneficial ownership except for pecuniary interests.
AI-generated analysis. How Rhea-AI works. Not financial advice.
